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J.B. Hunt Transport Services, Inc. Reports Revenues And Earnings For The Third Quarter 2012

Operating income increased 25% over the prior year. Positive results from steady load growth, improved container utilization and drayage efficiencies contributed to better overall network balance. Cost increases in rail purchase transportation and from shortages in the available driver market partially offset the benefits of improved operations.

Dedicated Contract Services (DCS)
  • Third Quarter 2012 Segment Revenue: $273 million; up 1%
  • Third Quarter 2012 Operating Income: $25.6 million; down 14%

DCS revenue increased 1% during the current quarter while revenue excluding fuel surcharges also increased 1%. Productivity (revenue per truck per week) decreased approximately 2% vs. 2011. New accounts provided a net additional 338 revenue producing trucks over the same period 2011.

Operating income decreased by 14% from a year ago primarily related to implementation costs incurred during the current quarter from several new customer accounts starting during the past four months. These implementation costs include, but are not limited to, significant efforts in driver hiring due to shortened lead times for contract start dates, personnel travel and relocation costs, equipment repositioning and costs to establish necessary telecommunications and operational system infrastructure. In addition to the higher implementation costs incurred during the quarter, safety, worker’s compensation and employee health care costs were a combined 15% higher than same quarter 2011.

Integrated Capacity Solutions (ICS)
  • Third Quarter 2012 Segment Revenue: $121 million; up 30%
  • Third Quarter 2012 Operating Income: $5.5 million; up 43%

ICS revenue increased 30% in the current quarter, mostly due to a 38% increase in load volume compared to third quarter 2011. Both transactional and contractual business realized increased volumes, however, contractual business grew at a faster pace to become 64% of total volumes vs. 56% in third quarter 2011.

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